Vijay Mallya’s Kingfisher Villa set to be re-named as new owner Sachiin Joshi moves in

The iconic Kingfisher villa in Goa, which earlier belonged to beleaguered businessman Vijay Mallya, will be renamed by its owner.

Sachiin joshi had first visited Kingfisher villa 10 years ago and considered it one of the finest properties he had ever seen. (Facebook)

The iconic Kingfisher villa in Goa, which earlier belonged to beleaguered businessman Vijay Mallya, will be renamed by its owner. After three failed attempts, a consortium of banks led by the State Bank of India finally sold the luxury property in north Goa’s upscale Candolim beach village to Sachiin Joshi for Rs 73.01 crore on April 8, this year. Now with the change of ownership, the name of the villa would also be changed as Joshi said it “should change” but he is yet to finalise any name. The owner of Viiking Media, Joshi said once he decides on the new name, he will let everyone know, reported Hindustan Times.

The villa, spread over 12,350 sq ft or three acres, has artificial ponds, private swimming pools, open air dance floors and lush green gardens, was legally owned by United Breweries Holdings, the parent of the Kingfisher Airlines. The lenders had taken physical possession of the villa in May 2016. Earlier, it was used by Mallya to host lavish parties. In one such party, Joshi, who took over the Kingfisher villa on Monday, had first visited it 10 years ago and considered it one of the finest properties he had ever seen. At that time, Sachiin revealed he thought that he would want to buy it some day, if he got an opportunity. Now after finally owning it, the man said, “It is a good feeling a very positive feeling.”

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Liquor baron Vijay Mallya was declared a wilful defaulter last year and is wanted by authorities for default in payment for loans related to Kingfisher Airlines that was grounded in 2012. He owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others. He left the country on March 3 last year and is currently said to be in Britain. Meanwhile, extradition talks are on between India and UK to get him back.